China's Wanda Group Becomes Second Largest Stakeholder of South Korea's Dexter Studios

The Chinese giant bought a $10 million stake in the South Korean VFX firm, marking the latest headline-making collaboration between the two Asian countries' closely knit film industries.

Dalian Wanda Group, China's biggest real estate company and the world's largest cinema owner, invested $10 million in Dexter Studios to become the second largest stakeholder of the South Korean visual effects firm, Dexter Studios announced on Thursday.

The investment by Wanda Group was finalized on April 1 through Bejing-based Prometheus Capital, which is run by Wang Sicong, son of Wanda Group head Wang Jianlin. The senior Wang is known to be the limited partner of the fund.

This is the first time Wanda Group is investing in a Korean VFX company.